Inception Growth Acquisition, a blank check company formed by VC Paige Craig targeting the TMT, sports, and gaming industries, raised $90 million by offering 9 million units at $10. Each unit consists of one share of common stock, one right to receive one-tenth of a share upon the completion of an initial business combination, and one-half of a warrant, exercisable at $11.50.
The SPAC is led by Chairman and CEO Paige Craig, an angel investor and founding partner of Outlander Lab, founder of Mayhaw Capital, and managing partner of Arena Ventures. The company plans to target the TMT, sports and entertainment, and non-gambling game sectors in Asia (excl. China).
Inception Growth Acquisition plans to list on the Nasdaq under the symbol IGTAU. EF Hutton and Brookline Capital Markets acted as joint bookrunners on the deal.
